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3 WAREHOUSES, OFFICES UP FOR E6.5 MILLION

20/02/2018 00:23:00 BY KWANELE DHLADHLA

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MBABANE – Property development punters have once again been presented with an opportunity to expand their portfolio.

Three warehouses with offices sitting on a plot measuring 3 666 square metres at the Matsapha Industrial Site opposite Matsapha Central Garage next to SwaziBank Depot (plot 613), are up for sale for E6.5 million after a failed auction conducted a fortnight ago at the old Manzini Regional Administration (RA) offices.

Tibuyile Investments Director Phumelela Malindzisa has invited bidders to buy the business which has full electricity and water access with tarred road access and is suitable for a wide range of business ventures. Malindzisa explained that the valuation of the property was of a higher price but they had opted to make the price lesser in order to enable interested businesses to grab the opportunity at ease.

Bidders who will participate in the auction to be conducted at the business premises on Thursday starting from 10 am will be expected to pay a refundable registration fee of E1 000.

An economist advised that investing in property remains a good investment on the basis of the fact that property appreciates in value. He said interested buyers should take up the opportunity considering the location at an industrial area which makes it easy to get tenants since a number of businesses would also be seeking for space following the re-admission into the Africa Growth Opportunity Act (AGOA) by the US Government.

“You will never go wrong with investing in property because it does not depreciate. Actually, investing in property derives value for money to buyers at all times,” the economist emphasised.
Principal Secretary in the Ministry of Commerce, Industry and Trade Siboniso Nkambule said they would continue to monitor trends on property sales, especially warehouses at industrial areas, with a view of ascertaining whether it was effects of the regained AGOA access.
United States President Donald Trump recently endorsed the re-admittance of the kingdom into AGOA, a move that was anticipated would create between 5 000 and 10 000 jobs in the short term.